Gorgeous 21 unit Apartment complex in Downtown Encinitas on the bluffs overlooking the Ocean, and Swami's surf spot. Same Ownership for last 20 years. Units have been renovated to various extent over last 20 years but there is upside if the Buyers want to improve further and add w/ d to each unit. Last 2Br condo sale in the neighborhood $2.85m. Newer pitched comp roof, water pipes replaced in 2003, pool and pool area renovated in last 2 years, newer windows, new 2nd floor deck going in now. Close to all the restaurants, shops, theater, banks, yoga studios, and train station on or near HWY 101.
Multi-familyProperty Type
1960Year Built
0.65 acresLot Size
$712Price/Sq.Ft.
27 spacesParking
Listed by Will Creagan•DRE #00949450• Southwest Equity Partners
Contact: willc@southwestep.com
Bought with Alex Knutson•DRE #01860265• Alex Knutson, Broker
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
11
Baths
6
Stories
2
Lot width
—
Lot depth
—
Lot size
0.65 Acres
Year renovated
1959
Sq. Ft.
20,125
Year built
1959
Style
Multi-Family (5+ Unit)
County
San Diego County
APN
2581721900
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 20, 2026.
D-R25
Downtown Encinitas Specific Plan-Residential 25 Zone
This zone is intended to provide for compatible high density multiple-family residential development including apartments, condominiums, and senior housing, with a maximum density of 25 units per net acre.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Other
Infrastructure
Educational/school
Housing-Mobile home park
Property details
Parking
Parking / Garage Information
Uncovered Spaces: 27
Driveway - Asphalt
Has Parking
# of Parking Spaces: 27
Interior
Laundry Information
Has Laundry
Community
Kitchen Information
Appliances: Dishwasher, Gas & Electric Range, Gas Cooking, Gas Oven, Gas Cooktop, Gas Water Heater, Microwave, Range/Stove Hood, Recirculated Exhaust Fan, Refrigerator
Has Appliances
Interior Features
Entry Level: 1
Entry Location: 1
Levels: One
Security Features: Carbon Monoxide Detector(s), Fire and Smoke Detection System
Unit Type 1 Information
Unit Key Numeric: 11719226
Listing Key Numeric: 372271157
Actual Rent: $935,268
Total # of Baths: 1
Total # of Beds: 2
Total Rent: $952,677
Total # of Units: 21
Expenses
Trash: $3,773
Total: $298,012
Insurance: $12,667
Water Sewer: $2,854
Electric: $12,828
New Taxes: $165,091
Workmans Compensation: $125
Multi-Unit Information
# of Units With Refrigerator: 21
# of Units With Range: 21
# of Units With Patio: 10
# of Units With Drapes: 21
# of Units With Disposal: 21
# of Units With Dishwasher: 21
Net Operating Income: $626,607
Average 2 Bed Area Units: Sq. Ft.
Average 2 Bed Area: 873
Total Building Area: 18,460
Gross Spendable Income: $626,607
Gross Scheduled Income: $952,627
Gross Operating Income: $924,619
Gross Multiplier: 16.27
Gross Income: $17,409
Gross Equity: $8,600,000
Laundry Equipment Own or Lease: Lease
# Of Leased Units: 20
# Of Separate Water Meters: 1
# Of Separate Gas Meters: 22
# Of Separate Electric Meters: 22
# Of Buildings: 2
Vacancy Allowance Rate: 3.03
Vacancy Allowance: 28008
Exterior
Exterior Information
Roof: Composition
Construction Materials: Stucco
Exterior Features
Pool Features: Community Pool, Solar Heat
Lot Information
Lot Size Source: Assessor's Data
Lot Size Dimensions: .65 Acres
Lot Features: 31-35 Units/Acre
Lot Dimensions Source: Assessor
Property Information
Total # of Units: 21
Common Walls: 1 common wall
Parcel Number: 2581721900
Attached Property
Total # of Stories: 2
Has View
Year Built Source: Seller
Financial
Lease / Rental Details
Operating Expense: $298,012
Tenant Pays: HVAC Maintenance
Utilities
Utilities Information
Sewer: Public Sewer
Natural Gas Available, Cable Connected, Electricity Connected
Location
Neighborhood Information
Community Features: Gutters, Sidewalks, Storm Drains, Street Lighting, Park, Watersports
Location Information
Latitude: 33.03948800
Longitude: -117.29573100
Directions: 5 Freeway Exit at Encinitas Blvd. and go West to Highway 101 the go left, at I St go right to the top of the bluff and park in cul-du-sac. Property is on the right.
Zoning: D-R25
Public facts
Beds: 11
Baths: 6.0
Sq. Ft.: 20,125
Stories: 2.0
Lot Size: 0.65 acres
Style: Multi-Family (5+ Unit)
Year Built: 1959
Year Renovated: 1959
County: San Diego County
APN: 2581721900
Home facts updated by county records on Aug 20, 2026
Other
Listing Information
IDX Contact Info: willc@southwestep.com
Days Active in MLS: 116
Listing Agent Information
List Agent First Name: Will
List Agent Last Name: Creagan
Listing Office Information
List Office Name: Southwest Equity Partners
Selling Agent Information
Buyer Agent First Name: Alex
Buyer Agent Last Name: Knutson
Selling Office Information
Buyer Office Name: Alex Knutson, Broker
Around this home
Schools
Paul Ecke-Central Elementary School
Public K-6 • Assigned • 1.2mi
9/10
Diegueno Middle School
Public 7-8 • Assigned • 3.4mi
9/10
La Costa Canyon High School
Public 9-12 • Assigned • 4.5mi
9/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
4 days above 84° expected this year, 12 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
4/10 Air Factor
4 unhealthy days expected this year, 4 days in 30 years
Provided by First Street
Historical weather
Encinitas, CA • 92024
Average low and high temperatures (°F)
68
46
68
49
70
51
68
53
70
58
73
62
77
64
75
64
75
65
72
58
68
50
66
49
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 8.7 hours in
June and 7.3 hours in December, placing it above the
U.S. average for solar exposure.